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Binance Becomes First Crypto Exchange to Get Operational MVP License in Dubai
Binance has become the world’s first exchange to secure an operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). This milestone grants Binance the privilege to provide exchange and broker-dealer services to institutional and retail investors under VARA’s authorization.
The journey began when Binance acquired its provisional license in Dubai in March 2022, followed by a preparatory MVP in September of the same year. The preparatory MVP allowed the exchange to offer a curated selection of assets exclusively to some qualified clients.
With the operational MVP license, Binance can offer approved virtual asset services, further solidifying its reputation as a responsible player in the crypto market. It also shows the crypto exchange’s commitment to compliance with local regulators across its service jurisdictions.
This milestone translates to a
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